Now that the Paris Olympic and Paralympic Games are over, France faces a bill of more than €8 billion for hosting the world’s biggest sporting event. Were they worth it financially?
It is estimated that the Olympic Games were organized. It cost approximately 8 billion eurosbut only 2,000 million of this came from national expenditure. The rest came from the International Olympic Committee (IOC) and private sponsors.
If the final cost remains within this range, Paris to host cheapest Summer Games in decades: previous Tokyo 2020 Olympic Games It cost more than 12,000 million eurosAccording to the IOC.
This is because the French capital relies almost entirely on existing venues rather than building new ones. However, How much will the games contribute to the country’s economy?
Although it is too early to give an exact figure, The first data are already encouragingAccording to Choose Paris Region, the capital’s economic and tourism development agency.
“The positive thing is that We hosted 500,000 more tourists than last summerand this has an obvious economic impact. More international tourists came than we expected, so the customer tends to spend more here too,” explains Alexandra Dublanche, head of the Choose Paris Region.
“Most of the tourists are British, American and German, but we also see: Increase in the number of Asian tourists After the COVID-19 pandemic, there is a return with an increase of 7% in the coming months,” he explains to ‘Euronews’.
What could be the long-term effects?
According to the Center for Sports Law and Economics (CDES) Can produce between 6,700 and 11,000 million euros Financial benefits for the Paris region. Final figures will be announced in a few months. These benefits can also create a long-term ripple effect.
“As for the benefits ahead, the outlook is quite encouraging. +7% increase in flight bookings +6% in November compared to October and 2023, but last year was already a very positive year. Rugby World Cup“says Alexandra Dublanche.
paris area spent approximately 500 billion euros In total for the organization of the Summer Games. On Tuesday, the Bank of France confirmed Your forecast for the third quarterGrowth in economic activity is estimated at “around 0.4%”, thanks in part to the Olympic Games.
In comparison, the second quarter of the year There was an increase in economic activity 0.2%.
